French press review 7 August 2017

French newpapers are full of health reports today, from the revamped euro to the agonising downfall of the French Socialist Party. The financial fitness of Paris Saint-Germain is another talking point, following the record-breaking signing of Brazilian forward Neymar.

Should we be afraid of the rise of the euro? That is the main question Le Figaro is asking this morning.

“Undermined by recent electoral defeat and the poor results of François Hollande's government, the party is now down to just 31 MPs," Libération reminds its readers. "The political line, torn between the left and right wings, is yet to be defined."

But the paper brings some historical perspective to the party’s endeavours, drawing a parallel with the late 1960s, when the Socialist Party's predecessor was heavily defeated in both the presidential and general elections.

According to Libération, this dark chapter in its history forced the party to unite the left and reaffirm its socialist identity - and ultimately led to François Mitterrand’s victory in the 1981 presidential election.

So can the Socialists take inspiration from their past and find a new lease of life?

In its pessimistic editorial Libération doesn’t seem to have much hope.

“The party’s survivors are divided,” it says. "Between the Hamonists, the Vallsists, the Macronists, all these ists which are devastating for the left, the youth seems to be reproducing the same divisions as their predecessors."

In its editorial the paper says the sums involved are “unreal” - 220 million euros for the buyout clause and 30 million euros a year for the player’s salary.

From a political and financial standpoint, these sums are not as absurd as they sound, Le Monde explains, since the player’s celebrity status will generate huge profits for both his club and the French league as a whole. More cynically, his transfer will also provide a diplomatic boost to the club's owners, Qatar.

But Le Monde says it would be nice to see some redistribution, as the sum spent on this one transfer is geater than the budgets of all 20 of France’s second division teams.

Le Monde goes on to conclude, rather philosophically, that “modern football is a cruel reflection of a world where the rich are getting richer and the rest are getting more vulnerable”.